Robert A. Skinner

Partner

Rob Skinner is a partner in Ropes & Gray’s business and securities litigation practice group, where he represents investment advisers and other financial services firms in securities litigation and other complex business disputes. A recognized industry leader in investment management litigation, Rob has been at the forefront of many of the key challenges facing the mutual fund industry in recent years, including subprime-related losses, excessive fee claims and prospectus liability. In addition to handling active litigation matters, he frequently advises investment managers and other clients in their dealings with state and federal regulators. Rob is a regular speaker and commentator on litigation and risk management issues facing asset managers. He also has substantial experience in litigating major insurance coverage disputes on behalf of insurers, including trial and appellate victories in the 9/11 World Trade Center coverage dispute.

In 2014, Rob left the firm briefly to serve as Chief Corporate Counsel on an interim basis at Affiliated Managers Group, Inc. (AMG), a leading global asset management company and Ropes & Gray client.

ProShares Funds: As lead counsel for the largest sponsor of leveraged and inverse exchange-traded funds (ETFs), argued and won SDNY and Second Circuit victories dismissing multiple class actions that alleged prospectus liability for inadequate risk disclosures. In re ProShares Trust (2nd Cir. 2013).

Sequoia Fund: Won dismissal of derivative claims against all defendants asserted in connection with Fund’s allegedly over-concentrated investments in Valeant Pharmaceuticals.

Third Avenue Funds: Defending the independent trustees and funds against securities class actions and derivative claims in multiple courts in connection with the closure of the Third Avenue Focused Credit Fund in 2015

Allianz Funds: As lead counsel, won dismissal of derivative shareholder suit against mutual fund adviser and trustees alleging breach of fiduciary duty and securities law violations.

Institutional Investor: Argued and won favorable decision in the Second Circuit enforcing arbitrability of a claim asserted by a major university endowment against a Russian oil and gas company that issued American Depositary Receipts.

Events

In August, a federal court in the District of New Jersey
found that shareholder plaintiffs failed to prove that AXA entities charged
excessive mutual fund management fees, in violation of Section 36(b) of the
Investment Company Act of 1940 ...